Fourth Forties November Crude Tanker Said Destined for KoreaLaura Hurst and Ramsey Al-Rikabi
The Everbright crude tanker left the U.K. on Nov. 30 for South Korea, the fourth vessel to leave for the Asian nation last month, according to two people with knowledge of the matter.
The Suezmax, able to haul as much as one million barrels of oil, set sail from the Forties crude loading terminal Hound Point in Scotland and is signaling Malta as its next stop, according to Bloomberg ship tracking data. The vessel will continue to South Korea via the Suez Canal, the people said, asking not to be identified because the information is private.
The tanker follows the Pluto Glory, Front Endurance and Manah, which are taking two million barrels each to Daesan, Yeosu and Ulsan.
South Korea, the fifth-largest crude buyer, signed a free trade agreement with the European Union in July 2011 that waived a 3 percent tariff on imports.
The North Sea blend is the most abundant of the four grades that make up Dated Brent, the benchmark used to price more than half the world’s crude.